Blockchains are often associated with the word "trust." The blockchain realizes point-to-point transactions by decentralizing distributed accounting, thus solving the current social trust crisis. Often said: "The Internet solves the problem of information transmission, and the blockchain solves the problem of value transmission." When people start to exalt the banner of "decentralization, non-tampering, and protection of privacy", what is the "letter"? ? Or why the blockchain can achieve trust.
First, the trust algorithm
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The algorithm does not tell the story, the blockchain is using algorithms to solve the existing mistrust problem. Encrypted hashes, completely random random numbers guarantee that only one content will produce a unique hash value. Blockchain through asymmetric encryption, distributed storage, etc., to a certain extent, to ensure that nodes can exchange data in a trusted environment, automatic matching and enforcement. In addition to the first time, the digital signature can help the asset owner to complete the asset confirmation. When the transaction is generated, the other party can use its own private key to unlock the assets of the transaction.
Not only that, new directions such as zero-knowledge proof, homomorphic encryption, and ring signature are becoming a major conquering area for future encryption algorithms. Although with the rise of quantum computers, encryption algorithms will face enormous challenges in the future, but I believe that this game will never stop.
Second, the data link
A blockchain consists of blocks one by one, including the block header (block height, generation time, parent block hash value). The new block uses its own hash as the identifier, forming a chained data link with the previous block. The latest block contains proof of the integrity of all data links, and if any data on the entire chain is altered, it will break the correlation of the entire blockchain. This is enough to ensure that blockchain data is difficult to tamper with, and all data must be consistent and open and transparent.
Third, smart contracts
When you mention a smart contract, you will definitely think of V God. In fact, the concept of smart contract was originally proposed by Saab for the first time: "A smart contract is a set of promises defined in digital form, including agreements on which contract participants can implement these commitments." As a result, the content of the smart contract must be recognized by everyone, and the logical consistency is guaranteed on all nodes, and consistent data is generated and maintained on all nodes.
We can actually understand a smart contract as an electronic version of the contract. Unlike traditional contracts, smart contracts are implemented in code and run throughout the blockchain network, following decentralized rules. Of course, this will inevitably lead to loopholes. Historically, there have been many incidents of well-known asset losses, such as DAO code vulnerabilities, multi-sign wallet vulnerabilities, digital overflows, and BBSs that are not 404.
However, after a long period of stable operation and rigorous testing before going online, the current smart contract is already in a relatively stable state. If the blockchain is trusted by society through encryption algorithms and data links, then I think smart contracts are the closest to blockchain trust.
Only under the premise of trust based on the trust of all parties will people be more reassured to inject assets into the blockchain network to carry out mutually beneficial business practices. It is undeniable that this is a very ideal state. But between reality and ideal, there is always a threshold, waiting for people of insight to cross it.
Although the blockchain can bring new changes to human society, the energy consumption it produces has always been criticized by people in the industry. The consensus mechanism has also evolved from PoW to PoS. As the phenomenon of centralization of PoS becomes more and more obvious, when everyone starts to warm up, the block packing right is monopolized in the hands of people or groups with a large number of token assets. Then the blockchain may become a little girl dressed up.
This year, with the concept of green and environmental protection, PoC adheres to the goal of breaking the high access cost of mining and realizing mines, and stands out from many consensus mechanisms. In contrast, the PoW mechanism's 28TH/S standard computing power, 24 hours of non-stop operation, a daily consumption of up to 38 kilowatts, about three times the average household electricity consumption; and PoC hard drive mining, only need a light bulb You can use electricity.
Blockchain empowers social trust, but it is not flawless. As a leader in the field of PoC, Lava wants to build a "root of trust" based on PoC. So what is the "root of trust"?
Lava wants to incorporate the global consensus and value into the Lava ecosystem based on PoC's high-security and low-energy consensus mechanism. On the side that contributes capacity, Lava uses a two-way peg cross-chain asset transaction, a script-based cross-chain atomic exchange, and an offline expansion scheme, a payment channel, and a status channel. Technology, to achieve the condensation of global storage, and call it the "root of trust."
Lava believes that whether it is centralization or decentralization, the ultimate goal is to bring value to the society and to do something that is conducive to social progress and development. If everyone is in charge, it will not only be a waste of resources, but the blockchain industry and society will develop slowly. Only when everyone is condensed into the "root of trust" can we exert the greatest value.
Of course, what Lava wants to do is not only the root of trust. In addition, Lava wants to build a "top-level index" based on the "root of trust." Only in this way can the entire closed loop be completed and the true value can be maximized. We believe that Lava, which occupies the best track of PoC mining + decentralized storage, must have enormous room and potential for development.